Japan provides Vietnam over 95 billion yen in ODA

Hanoi (VNA) – Diplomatic notes were sealed in Hanoi on January 15, concerning the first batch of Japanese Official Development Assistance (ODA) worth more than 95 billion JPY for Vietnam in fiscal 2015.

Planning and Investment Minister Bui Quang Vinh and Japanese Ambassador to Vietnam Hiroshi Fukada signed the notes.

Japan will channel the ODA capital into major infrastructure projects including the Da Nang-Quang Ngai expressway and Hai Phong’s Lach Huyen port.

At the notes exchange ceremony, Minister Vinh stressed the growing cooperation between Vietnam and Japan.

Projects with investments from Japan have produced effective results for Vietnam’s socio-economic development so far, he added.

The minister unveiled that Japan’s total ODA for 2015 could reach 300 billion JPY.

Ambassador Fukada said Japan pays heed to economic ties with Vietnam and commits to continue to provide ODA.

He lauded the sound outcomes of local infrastructure projects using the loan.

In 1992, Japan resumed its official development aid (ODA) for Vietnam. Approximately 2,600 billion JPY has been offered to the Southeast Asian country since then.-VNA